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Forex Market News Update Today-27 July 2016

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USD-INR: 
The Indian Rupee appreciated by 0.12 percent in yesterday’s trading session on the back of weak dollar and continued FII inflows into local shares. FII’s net bought stocks worth Rs 670.89 crores yesterday as per provisional data from NSE. However, rupee remained under pressure as investors remained cautious ahead of policy meetings of major central banks. Even remained careful ahead of Goods and Services tax (GST) bill. It is likely to be listed this week. Benchmark stock index 50 shares Nifty Index decreased by 0.52 percent to 8590.65. In Intraday Indian Rupee touched a High of 67.2525 and closed at 67.2725 against Dollar.

EUR-INR:
Euro depreciated by 0.03 percent in yesterday’s trading session on the back of divergence in monetary policy and dovish statement from President Mario Draghi. He signaled that central bank may use all instrument available if necessary. However, sharp fall was prevented on weakness in dollar and better than expected data from Euro Zone. In intraday Euro touched a low of 1.0976 and closed at 1.0986 against Dollar.

GBP-INR:
Pound depreciated by 0.09 percent in yesterday’s trading session on the back of divergence in monetary policy and rise in risk aversion in the global markets. Further, weak economic data from UK added downside pressure. UK Manufacturing and Service PMI data showed that the activity in both the sectors witnessed contraction in July. Traders remained careful ahead of Bank of Japan and US Federal Reserve monetary policy meetings. In intraday Pound touched a low of 1.3055 and closed at 1.3127 against Dollar.

JPY-INR:
Japanese Yen appreciated by 1.05 percent in yesterday’s trading session on the back of weakness in dollar and as investors remained cautious ahead of policy meetings of major central banks. Further, rise in risk aversion in the global markets increased the demand for safe haven. Bank of Japan governor Kurdo said bank saw no need to stimulate the economy with helicopter money. In intraday Yen touched a high of 103.98 and closed at 104.64 against Dollar.

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Alisha Singh

Alisha Singh

1 comment:

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